Join Now | 
HomeAboutContact UsPrivacy & SecurityAdvertise
Soccer America DailySpecial EditionAround The NetSoccer Business InsiderCollege Soccer ReporterYouth Soccer ReporterSoccer on TVSoccer America Classifieds
Paul Gardner: SoccerTalkSoccer America ConfidentialYouth Soccer InsiderWorld Cup Watch
RSS FeedsArchivesManage SubscriptionsSubscribe
Order Current IssueSubscribeManage My SubscriptionRenew My SubscriptionGift Subscription
My AccountJoin Now
Tournament CalendarCamps & AcademiesSoccer GlossaryClassifieds
Malcolm Glazer's Polarizing Reign over Man United
BBC Sport, May 29th, 2014 4:11PM

MOST READ
TAGS:  england, manchester united, soccer business

MOST COMMENTED

Malcolm Glazer, head of the Glazer family that owns Manchester United, died on Wednesday at the age of 85. As the BBC points out, Glazer was an extraordinarily controversial figure at Old Trafford, despite presiding over a successful era for the club, which saw it win five Premier League titles and the UEFA Champions League since taking it over in 2005.

Why? Primarily because Glazer’s 790 million pound ($1.32 billion) takeover of the club saddled it with a 525 million pound ($877.7 million) debt, and some 696 million ($1.16 billion) has since been spent servicing that debt through interest payments, bank charges and debt repayment. In other words, with Glazer’s takeover, United effectively went from being the richest club in the world to being the one that owed the most money.

That being said, Glazer correctly viewed United as a cash cow that could generate vast sums in commercial income, which rose to 152.5 million pounds ($255 million) last year. As the BBC points out, United forged alliances with airlines, tire companies, watchmakers and chip manufacturers, among others, adopting a franchise-based approach to its commercial operations that opened the door to huge amounts of money for the club.

It also had Alex Ferguson, who despite the off-field distractions, managed to keep delivering trophies until his retirement at the end of the 2012/13 campaign. The Scot was also a fervent champion of the Glazer regime, repeatedly praising the Americans for the way they managed the team’s finances.

However, while the Glazers were forced to service United’s debt, the likes of Chelsea and Manchester City began to vastly outspend United on player personnel, a trend which seems to have caught up on the Red Devils this past season, as they finished 7th, their worst-ever finish in the Premier League era.

Read the original story...


No comments yet.

Sign in to leave a comment. Don't have an account? Join Now




AUTHORS

ARCHIVES
FOLLOW SOCCERAMERICA

Recent Section 2 Around the Net
Ancelotti: Blatter 'Unable to Keep His Mouth Shut'     
Real Madrid coach Carlo Ancelotti on Tuesday accused Sepp Blatter of being "unable to keep his ...
Report: Spain's Tax Authority Probes Barca, Real Stars     
Marca on Wednesday reported that some of La Liga's highest profile players over the last several ...
Reports: Moyes to Take Over at La Real?    
Spanish media reports claim that former Manchester United coach David Moyes is among the names being ...
Balotelli 'Finally!' Scores for Liverpool     
Mario Balotelli on Tuesday came off the bench to save Liverpool from a League Cup fourth-round ...
Study: Barca Produces the Most Professionals in Europe     
According to new research, La Liga giant Barcelona has produced more professional players in Europe's top ...
Clattenburg Dropped for Breaching Referee Rules    
English referee Mark Clattenburg has been dropped for this weekend's Premier League games for breaking the ...
Mourinho Blasts Fringe Players Following Shrewsbury Win     
Chelsea coach Jose Mourinho criticized his fringe players for not taking their chance to impress him ...
Blatter on Russia: Soccer and Politics Should Not Mix     
FIFA President Sepp Blatter, in Russia on Monday for the unveiling of the official emblem for ...
Report: Evra Out for a Month     
Juventus defender Patrice Evra will be out for a month with a hamstring strain, the club ...
UEFA Reduces CSKA Stadium Ban     
UEFA on Monday reduced CSKA Moscow's stadium ban over its fans' racist behavior to two games ...
>> Section 2 Around the Net Archives